Loans Are Harder To Get

[elvenrunelord]

With the credit crunch have you had any problems getting the money you need for your business or investments?

[DianaR]

Originally Posted by elvenrunelord

With the credit crunch have you had any problems getting the money you need for your business or investments?

I have noticed no change. My limits on my credit cards have remained the same as well as the interest rates.

One good thing might come out of al of this financial upheaval, though.

Credit companies may be more willing to work with customers to keep their account open than rush to close them and cut off any hope of making more money from those customers.

Online companies might come up with other ways to handle purchases so that credit cards stop being the prevalent way purchases are paid for.

[jamesb]

I have been looking into getting a loan for a new business and it seems that the banks certainly have a lot more requirements now.

[jams002]

maybe loans are hard to get but sometimes easy to get it depends on the process


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[Ms_Margaret]

Originally Posted by elvenrunelord

With the credit crunch have you had any problems getting the money you need for your business or investments?

I don't see any changes in the attitude of the banks for lending. However, if any one has a bad credit score or does not fulfill the eligibility criteria, then only he/she may face some problems for getting a Loan. Otherwise, if you have all the required documents with you and also have an average or good credit score, the lenders are eager to provide you with Loan products.

Regards